Gaming and Leisure Properties Announces Pricing of $800,000,000 of 5.625% Senior Notes Due 2034 and $400,000,000 of 6.250% Senior Notes Due 2054

WYOMISSING, Pa,, July 30, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (“GLPI”) (NASDAQ: GLPI) today announced the pricing of a public offering of $1,200,000,000 aggregate principal amount of Notes (as defined below), to be issued by its operating partnership, GLP Capital, L.P. (the “Operating Partnership”), and GLP Financing II, Inc., a wholly-owned subsidiary of the Operating Partnership (together with the Operating Partnership, the “Issuers”). The Notes will be issued in two tranches, the first of which will be senior notes due 2034 (the “2034 Notes”) and the second of which will be senior notes due 2054 (the “2054 Notes” and, together with the 2034 Notes, the “Notes”).The 2034 Notes priced at 99.094% of par value, with a coupon of 5.625% and will mature on September 15, 2034. The 2054 Notes priced at 99.183% of par value, with a coupon of 6.250% and will mature on September 15, 2054. The Notes will be senior unsecured obligations of the Issuers, guaranteed by GLPI.

The Issuers intend to use the net proceeds from the offering for working capital and general corporate purposes, which may include the funding of announced transactions, development and improvement of properties, repayment of indebtedness, capital expenditures and other general business purposes.

The offering is expected to close on August 6, 2024, subject to the satisfaction of certain closing conditions.

The offering will be made under an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus and prospectus supplement. The preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available by visiting the EDGAR database on the SEC’s website at www.sec.gov.

Wells Fargo Securities, LLC, Citizens JMP Securities, LLC, Fifth Third Securities, Inc., Truist Securities, Inc., M&T Securities, Inc., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., U.S. Bancorp Investments, Inc., KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, Barclays Capital Inc., Scotia Capital (USA) Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Capital One Securities, Inc., Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are serving as joint book-running managers, and Centerview Partners LLC and CBRE Capital Advisors, Inc. are serving as co-managers for the offering. A copy of the preliminary prospectus supplement, final prospectus supplement (when available) and the accompanying prospectus relating to the offering of the Notes may be obtained by contacting Wells Fargo Securities, LLC by calling 1-800-645-3751, Citizens JMP Securities, LLC by calling 1-617-725-5500, Fifth Third Securities, Inc. by calling 1-866-531-5353 or Truist Securities, Inc. by calling 1-800-685-4786.